Updated Oct 20, 2026
Fannie Mae Provides $369 Million Loan For April Housing's Florida Affordable Housing Portfolio
April Housing Florida Portfolio
$369,000,000
Building Size
—
Asset Type
Package Deal
Closing
Oct 19, 2026
About this deal
AI
The transaction involved a package deal of 11 affordable housing properties located in Florida. The loan amount secured for the acquisition was $369,000,000, facilitated through a Fannie Mae credit facility. This arrangement is aimed at preserving long-term affordability across the portfolio.
Summary of transaction details:
- Property Type: Package Deal
- Transaction Amount: $369,000,000
- Lender: Fannie Mae
- Landlord: Alice Carr & Naveen Agrawal - April Housing
- Brokers: Evan Williams, Ian McIntire & Nicole Phillips - Newmark
Newmark played a critical role in arranging the financing, which included a $221.4 million fixed-rate draw and a $147.6 million floating-rate draw. Evan Williams led the transaction alongside colleagues Ian McIntire, Seante Vang, and Nicole Phillips, highlighting the collaborative effort in securing the loan for the portfolio.
On the Map
$369,000,000
Package Deal
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Market Package Deal Market Snapshot
Boundary boundary · Package Deal · Loan transactions
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.04%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93